Price to FCFE (P/FCFE)
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Mondelēz International Inc. pages available for free this week:
- Balance Sheet: Assets
- Balance Sheet: Liabilities and Stockholders’ Equity
- Analysis of Solvency Ratios
- Analysis of Short-term (Operating) Activity Ratios
- DuPont Analysis: Disaggregation of ROE, ROA, and Net Profit Margin
- Analysis of Geographic Areas
- Current Ratio since 2005
- Price to Operating Profit (P/OP) since 2005
- Analysis of Revenues
- Aggregate Accruals
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Free Cash Flow to Equity (FCFE)
Mondelēz International Inc., FCFE calculation
US$ in millions
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
- Net cash provided by operating activities
- The net cash provided by operating activities demonstrated a general upward trend over the reported periods. From 2020 to 2021, there was a modest increase from 3,964 million USD to 4,141 million USD. In 2022, a slight decline occurred, with cash flow decreasing to 3,908 million USD. However, this was followed by a notable rebound in 2023, where cash provided by operations increased significantly to 4,714 million USD, continuing to rise in 2024 to 4,910 million USD. Overall, the operating cash flow showed resilience and an improving trend post-2022 downturn.
- Free cash flow to equity (FCFE)
- The FCFE exhibited more volatility compared to operating cash flow. In 2020, FCFE was recorded at 3,823 million USD. A pronounced decrease occurred in 2021, dropping to 3,044 million USD. In contrast, 2022 saw a substantial increase in FCFE, almost doubling to 6,374 million USD, indicating a significant improvement in cash available to equity shareholders. The following year, 2023, experienced a sharp negative turn with FCFE falling to -422 million USD, reflecting a likely extraordinary use of cash or increased capital expenditures impacting cash available to equity. By 2024, FCFE recovered to a positive 2,297 million USD, although still below the peak in 2022. This pattern suggests fluctuations in capital allocation or operational cash adjustments affecting equity holders' free cash flow.
Price to FCFE Ratio, Current
Mondelēz International Inc., current P/FCFE calculation, comparison to benchmarks
| No. shares of common stock outstanding | |
| Selected Financial Data (US$) | |
| Free cash flow to equity (FCFE) (in millions) | |
| FCFE per share | |
| Current share price (P) | |
| Valuation Ratio | |
| P/FCFE | |
| Benchmarks | |
| P/FCFE, Competitors1 | |
| Coca-Cola Co. | |
| PepsiCo Inc. | |
| Philip Morris International Inc. | |
| P/FCFE, Sector | |
| Food, Beverage & Tobacco | |
| P/FCFE, Industry | |
| Consumer Staples | |
Based on: 10-K (reporting date: 2024-12-31).
1 Click competitor name to see calculations.
If the company P/FCFE is lower then the P/FCFE of benchmark then company is relatively undervalued.
Otherwise, if the company P/FCFE is higher then the P/FCFE of benchmark then company is relatively overvalued.
Price to FCFE Ratio, Historical
Mondelēz International Inc., historical P/FCFE calculation, comparison to benchmarks
| Dec 31, 2024 | Dec 31, 2023 | Dec 31, 2022 | Dec 31, 2021 | Dec 31, 2020 | ||
|---|---|---|---|---|---|---|
| No. shares of common stock outstanding1 | ||||||
| Selected Financial Data (US$) | ||||||
| Free cash flow to equity (FCFE) (in millions)2 | ||||||
| FCFE per share3 | ||||||
| Share price1, 4 | ||||||
| Valuation Ratio | ||||||
| P/FCFE5 | ||||||
| Benchmarks | ||||||
| P/FCFE, Competitors6 | ||||||
| Coca-Cola Co. | ||||||
| PepsiCo Inc. | ||||||
| Philip Morris International Inc. | ||||||
| P/FCFE, Sector | ||||||
| Food, Beverage & Tobacco | ||||||
| P/FCFE, Industry | ||||||
| Consumer Staples | ||||||
Based on: 10-K (reporting date: 2024-12-31), 10-K (reporting date: 2023-12-31), 10-K (reporting date: 2022-12-31), 10-K (reporting date: 2021-12-31), 10-K (reporting date: 2020-12-31).
1 Data adjusted for splits and stock dividends.
3 2024 Calculation
FCFE per share = FCFE ÷ No. shares of common stock outstanding
= ÷ =
4 Closing price as at the filing date of Mondelēz International Inc. Annual Report.
5 2024 Calculation
P/FCFE = Share price ÷ FCFE per share
= ÷ =
6 Click competitor name to see calculations.
- Share Price Trends
- The share price exhibited an overall upward trend from 56.21 US$ at the end of 2020 to a peak of 76.87 US$ by the end of 2023, representing substantial growth. However, this was followed by a noticeable decline to 57.43 US$ in 2024, indicating a reversal in the positive momentum observed in the previous years.
- Free Cash Flow to Equity (FCFE) per Share
- The FCFE per share fluctuated significantly over the period. Starting at 2.71 US$ in 2020, it decreased to 2.19 US$ in 2021 before sharply increasing to 4.68 US$ in 2022. This was followed by a steep drop into negative territory at -0.31 US$ in 2023, signalling a potential liquidity or profitability concern during that year. By 2024, the FCFE per share recovered slightly to 1.78 US$, though this level remained below the earlier years’ figures.
- Price to FCFE Ratio (P/FCFE)
- The P/FCFE ratio demonstrated high volatility and reflected market reactions to FCFE performance and share price movements. The ratio surged from 20.76 in 2020 to 30.57 in 2021, before halving to 14.1 in 2022, in line with the spike in FCFE per share value that year. The ratio is missing for 2023, likely due to negative FCFE per share that year, rendering the calculation invalid. In 2024, the ratio rose sharply again to 32.34, suggesting that the share price valuation relative to free cash flow increased despite the lower FCFE per share.
- Overall Insights
- The data reflects substantial variability in both free cash flow and market valuation metrics over the five-year period. The volatility in FCFE per share, including a year of negative free cash flow in 2023, is notable and may warrant further investigation into the underlying operational or financial factors. Despite the fluctuations in FCFE, the share price maintained relative strength until a correction in 2024. The P/FCFE ratio’s behavior highlights changing investor sentiment, particularly the sensitivity to earnings fluctuations and possibly differing growth expectations.